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Unit 5 Review

Total questions: 10

Worksheet time: 1hrs 10mins

Name
Class
Date
1.

Susan is applying for a job as a financial analyst and will make $82,450 a year if she gets the job. What will Susan's average weekly gross pay be if she gets the job?

a)

$2061.25

b)

$6870.83

c)

$1585.58

d)

$7210.45

2.

Marco is a licensed master electrician and makes $75 an hour. He works an average of 28 hours a week. What is his average monthly income?

a)

$8400

b)

$2100

c)

$9100

d)

$109,200

3.

Anthony got an afterschool job as a retail salesman. He makes $2.50 an hour plus commissions. Last week, he worked 5 days for 2.5 hours each. His commissions totaled $312.00. What was Anthony’s gross pay for last week?

a)

$324.50

b)

$343.25

c)

$415.25

d)

$396.75

4.

The amount earned by an insurance salesman is a percentage of the dollar value of the policies sold. If a salesman earns $6720 for sales of policies valued at $240,000, then what would the salesman earn on policies valued at $180,000?

a)

$2678

b)

$7500

c)

$5040

d)

$1330

5.

Susie made $3,220 last month, before deductions. Her deductions are as follows:


Social Security 6.1%

Medicare 1.52%

Federal Tax 19.6%

Medical Insurance $250

Union dues $32


Medical insurance and the union deductions are made after all other deductions. Find Susie's final pay.

a)

$3220.00

b)

$2342.52

c)

$2060.52

d)

$3003.68

6.

Consider the pay stub. If 6.2% of the gross earnings were deducted for Social Security, what are the net earnings?

a)

$2188.80

b)

$2038.02

c)

$1815.23

d)

$393.98

7.

Ralph's gross income is $43,000. When filing his income taxes, he plans to take the standard deduction of $12,200. What is his adjusted gross income?

a)

$30,800

b)

$31,000

c)

$55,200

d)

$41,780

8.

Rebecca pays $3,946.95 in property tax each year. Her adjusted gross income is $62,650. What percentage of her adjusted gross income is she paying in property tax?

a)

15.87%

b)

6.3%

c)

3.95%

d)

9.23%

9.

Lynn's adjusted gross income is $52,000. People with her income level are assessed a tax fee of $2,100 plus a 22% marginal tax on the amount over $45,000. How much will Lynn pay in taxes?

a)

$13,540

b)

$11,440

c)

$7,000

d)

$3,640

10.

Zypher had $6.28 left in his checking account which charges $38 for each overdraft. He used his debit card to purchase an item for $21.34. What amount is in his checking account after the purchase including the overdraft fees?

a)

$-15.06

b)

$44.28

c)

$-10.38

d)

$-53.06